Humboldt Reports Earnings for the Three Months Ended March 31, 2012

Humboldt Capital Corporation (TSX VENTURE:HMB) is pleased to report that for the
three months ended March 31, 2012, Humboldt's shareholder's equity increased by
9% to $48 million or $3.95 per share, fully diluted, compared with $44.1 million
or $3.64 at the end of 2011. Shareholders' equity totaled $62.8 million or $5.04
per share at March 31, 2011. Almost all of the increase in shareholders' equity
during the quarter resulted from capital gains realized on the disposition of
investments in the international oil sector. With the proceeds from the
dispositions Humboldt's available capital was increased to almost $6 million at
the end of the quarter.


The market is presently entering another cyclical downturn or "sell in May"
event. This has been triggered by concerns over European sovereign debt and
uncertainty regarding worldwide growth prospects. Humboldt is in excellent
financial condition to benefit from this storm with a cash balance of over $8
million and no long term liabilities at the date of this report.


Humboldt also announces that it has agreed to loan Paris Energy Inc. up to
$250,000, through a secured demand loan with interest at a rate of Prime plus
5.5%. The proceeds of the loan will be used to provide Paris with the necessary
working capital for current operations and to establish a new business plan.


Robert W. Lamond owns 71% of the outstanding shares of Humboldt. Mr. Lamond and
Humboldt collectively hold, directly and indirectly, an aggregate of 10,107,735
common shares of Paris, or an aggregate of 57% of the issued and outstanding
Common Shares.


Humboldt Financial Statements and Management's Discussion and Analysis for the
three months ended March 31, 2012 have been filed on SEDAR and can be found on
Humboldt's website at www.humboldtcapital.com.




HIGHLIGHTS                                                                  
                                                    Three Months Ended      
                                                              March 31      
                                                  --------------------------
                                                                            
(Thousands, except per share amounts)                 2012     2011     2010
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Net gain on sale of investments                    $ 3,299  $ 2,475  $    30
Unrealized increase (decrease) in investment value $   627  $(2,175) $ 1,061
                                                                            
Earnings and comprehensive earnings for the period $ 3,876  $   220  $   642
  Earnings per share, diluted                      $  0.32  $  0.02  $  0.05
Share capital                                      $ 2,062  $ 2,012  $ 2,033
Retained earnings                                  $45,352  $60,184  $43,283
Shareholders' equity                               $48,003  $62,803  $47,336
Cash and cash equivalents                          $ 6,419  $ 7,465  $ 9,408
                                                                            
Shares outstanding                                  11,957   11,990   12,115
Net asset value per share, diluted                 $  3.95  $  5.04  $  3.86
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Forward-looking statements - the press release today contains "forward-looking"
information. Actual results could differ materially from the conclusions,
forecasts or projections in the forward-looking information. Certain material
factors and assumptions were applied in drawing the conclusions or making the
forecasts or projections as reflected in the forward-looking information.
Additional information about the material factors that could cause actual
results to differ materially from the conclusion, forecast or projection in the
forward-looking information and the material factors or assumptions that were
applied in drawing the conclusion or making the forecast or projection as
reflected in the forward- looking information is contained in the press release.


Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural
gas volumes have been converted to barrels of oil at six thousand cubic feet
(mcf) per barrel (bbl). Boe figures may be misleading, particularly if used in
isolation. A boe conversion of six thousand cubic feet per barrel is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead. References to oil in
this discussion include crude oil and natural gas liquids (NGLs).


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.